FXStreet (Edinburgh) – The greenback is extending its upside momentum on Tuesday, lifting USD/JPY to the upper band of the range around 123.60/80.
USD/JPY focus on Greece, US data, BoJ minutes
The pair has found decent support around the mid-122.00s following the weaker tone in the dollar post-FOMC meeting, managing to regain the 123.00 handle and beyond afterwards.
With Greece still driving the sentiment in the global markets, investors will also pay attention today to the key US data, as Durable Goods Orders, New Home Sales and the flash Markit’s manufacturing PMI. In the Japanese docket, the BoJ minutes will be in the spotlight.
USD/JPY levels to watch
As of writing the pair is advancing 0.22% at 123.63 and a surpass of 123.79 (high Jun.23) would expose the psychological 124.00 handle and finally 124.46 (high Jun.18). On the flip side, the immediate support lines up at 123.35 (low Jun.23) followed by 122.85 (Kijun Sen) and then 122.56 (low Jun.19).
(Market News Provided by FXstreet)